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Form 1120-5472 refers to Form 5472 filed together with a pro-forma Form 1120.
It is an information-only filing required for certain foreign-owned U.S. entities, mainly single-member LLCs treated as disregarded entities, to report transactions with their foreign owner or other related parties.
No income tax is calculated or paid with this filing.
You must file if all of the following apply:
- The LLC is U.S.-registered
- The LLC has at least one foreign owner (25% or more)
- The LLC is treated as a disregarded entity for tax purposes
- The LLC had any reportable transaction with its foreign owner or related party during the year
Maybe — it depends on transactions, not income.
You must file if there were any reportable transactions, such as:
- Capital contributions from the foreign owner
- Owner paying LLC expenses (legal fees, formation costs, registered agent fees)
- Reimbursements or distributions
You generally do NOT need to file if the LLC had absolutely no reportable transactions at all during the tax year.
A reportable transaction includes any exchange of money, property, or value between the LLC and a foreign owner or related party, including:
- Capital contributions
- Loans or loan repayments
- Management fees
- Expense payments on behalf of the LLC
- Distributions to the owner
Even small or one-time payments can trigger the filing requirement.
Failure to file can result in:
- $25,000 penalty per year, per entity
- Additional penalties if the failure continues after IRS notice
These penalties apply even if the LLC had no income and owes no tax.
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